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2022
Flag → Flag
Exports $3.89BRnk 19 / 222
2022
Flag → Flag
Top Product $358MCars
2022
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Exports $3.15BRnk 15 / 217
2022
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Top Product $435MCars
2022
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Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
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Economic Complexity (ECI) ECI 1.5Rnk 8 / 133
2022
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GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
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 GDP$471BCURRENT US$
Rnk 32 / 186
2012-2022
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GDP GROWTH15.1%CURRENT US$
Rnk 137 / 186
2022
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GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
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GDP PC$52,131CURRENT US$
Rnk 17 / 186
2012-2022
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GDP PC GROWTH7.34%CURRENT US$
Rnk 124 / 186

About

Belgium-Austria Trade: In 2022, Belgium exported $3.89B to Austria. The main products that Belgium exported to Austria were Cars ($358M), Vaccines, blood, antisera, toxins and cultures ($260M), and Packaged Medicaments ($226M). Over the past 5 years the exports of Belgium to Austria have increased at an annualized rate of 7.2%, from $2.75B in 2017 to $3.89B in 2022.

In 2020, Belgium exported services to Austria worth $949M, with Other business services ($352M), Transportation ($279M), and Computer and information services ($169M) being the largest in terms of value.

Austria-Belgium Trade: In 2022, Austria exported $3.15B to Belgium. The main products that Austria exported to Belgium were Cars ($435M), Vaccines, blood, antisera, toxins and cultures ($259M), and Nitrogen Heterocyclic Compounds ($121M). Over the past 5 years the exports of Austria to Belgium have increased at an annualized rate of 10.7%,  from $1.9B in 2017 to $3.15B in 2022.

In 2020, Austria exported services to Belgium worth $951M, with Travel ($291M), Other business services ($247M), and Transportation ($236M) being the largest in terms of value.

Comparison: In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Austria ranked 8 in the Economic Complexity Index (ECI 1.5), and 32 in total exports ($209B).

Latest Trends

May, 2024

About

Overview In May 2024, Belgium exported €275M and imported €275M from Austria, resulting in a negative trade balance of €129k. Between May 2023 and May 2024 the exports of Belgium have decreased by €-4M (-1.43%) from €279M to €275M, while imports increased by €68.1M (32.9%) from €207M to €275M.

Trade In May 2024, the top exports of Belgium to Austria were Machinery, mechanical appliances, & parts (€43.7M), Pharmaceutical products (€42.3M), Cars, tractors, trucks & parts thereof. (€40.5M), Plastics & articles thereof (€28.9M), and Electrical machinery and electronics (€18.4M). In May 2024 the top imports of Belgium from Austria were Pharmaceutical products (€62.8M), Cars, tractors, trucks & parts thereof. (€43.5M), Machinery, mechanical appliances, & parts (€19.8M), Electrical machinery and electronics (€12.4M), and Iron & steel (€12.4M).

Growth In May 2024, the decrease in Belgium's year-by-year exports to Austria was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. (€-5M or -11%), Pharmaceutical products (€-2.99M or -6.6%), and Paints, dyes, & varnishes (€-1.58M or -33.6%). In May 2024, the increase in Belgium's year-by-year imports  from Austria was explained primarily by an increase in product imports  in Pharmaceutical products (€46.9M or 294%), Electrical machinery and electronics (€5.03M or 68.2%), and Railway and trams (€2.55M or 331%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (May 2023 - May 2024)€-4M(-1.43%)
IMPORT GROWTH (May 2023 - May 2024)€68.1M(32.9%)

This section shows exports and imports data at subnational level for Belgium. Click any date in the line plot or any product to explore the exports or imports behavior of Belgium over time.

To check Austria and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Austria and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $3.89B to Austria. The main products exported from Belgium to Austria were Cars ($358M), Vaccines, blood, antisera, toxins and cultures ($260M), and Packaged Medicaments ($226M). During the last 5 years the exports of Belgium to Austria have increased at an annualized rate of 7.2%, from $2.75B in 2017 to $3.89B in 2022.

In 2017, Austria exported $3.15B to Belgium. The main products exported from Austria to Belgium were Cars ($435M), Vaccines, blood, antisera, toxins and cultures ($259M), and Nitrogen Heterocyclic Compounds ($121M). During the last 5 years the exports of Austria to Belgium have increased at an annualized rate of 10.7%, from $1.9B in 2022 to $3.15B in 2017.

Exports from Belgium (Flag) to Austria (Flag) (2022)

Exports from Austria (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Austria
Top DestinationGermany$57.7B

This map shows whether countries import more from Belgium or Austria. Each country is colored based on the difference in imports they receive from Belgium and Austria or the difference in the growth in imports.

In 2022, countries that imported more from Belgium than Austria included France ($71.1B), Netherlands ($65.7B), and Germany ($91.9B).

In 2022, countries that imported more from Austria than Belgium included Hungary ($10.4B), Switzerland ($11.2B), and Slovakia ($7.4B).

Difference in imports from Austria (Flag) and Belgium (Flag) (2022)

Comparative Advantage Belgium - Austria

Flow
Scale

This chart compares trade between Belgium and Austria by product, considering products traded by both, Belgium and Austria.

During 2022, Belgium had a large net trade with Austria in the exports of Chemical Products ($823M), Machines ($670M), and Transportation ($631M).

During 2017, Austria had a large net trade with Belgium in the exports of Chemical Products ($712M), Transportation ($621M), and Machines ($507M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Austria+$149MVaccines, blood, antisera, toxins and cultures
Top Product Potential Austria Belgium+$165MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Belgium exported services to Austria worth $949M, with Other business services ($352M), Transportation ($279M), and Computer and information services ($169M) being the largest in terms of value.

In 2020, Austria exported services to Belgium worth $951M, with Travel ($291M), Other business services ($247M), and Transportation ($236M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Belgium (Flag) to Austria (Flag) (2020)

Services Exports from Austria (Flag) to Belgium (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Belgium and Austria. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Austria. Similarly, a dot/product with the flag of Austria indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Austria (Flag) (2022)

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